BIRMINGHAM, Ala. (WIAT) — It’s a race to save the green, and four teams are cutting back on finances to score more money in the bank. Team Rich is on that track to financial success and checking off the budgeting goals in the process.
Sherry and Shannon rich are checking off their frugal list. “We’re a lot further along than what I thought. We’re down to a car payment and a house,” said Shannon.
They’re now saying that it comes down to focus and strategic planning.
“We don’t have debt. We’re starting double car payments, so we want to get that paid off next, and then we’ll just have the house left,” said Sherry.
The coach for Team Rich says Sherry and Shannon have not only paid off loans, but done all their own house repairs and created a medical fund.
He said, “It kept them from having to go into their emergency fund. He’s done repairs to his dishwasher and also his truck. So, he’s saved quite a bit of money over the last few months by doing his own repairs.”
The Riches also explained how much they were relieved to stick to the budget custom-made for them. Sherry said, “Now we’re paying stuff days in advance or two weeks early. It’s a lot different. It’s a lot less stressful.”
They are chipping away at their stress and their debt one week at a time.
You can learn from each team in the eCO Savings Race. Track their progress and follow their blogs for more information.
Copyright 2015 WIAT 42 News